NEW YORK, September 7, 2018: Morgan Lewis recently advised Aurobindo Pharma USA, Inc., a marketer and manufacturer of generic pharmaceuticals and active pharmaceutical ingredients, in the acquisition of select assets from Sandoz Inc., USA, a Novartis Division, comprising a portfolio of oral solid products and dermatology businesses along with commercial and manufacturing infrastructure in the United States.
The transaction was announced on September 6, 2018, and is valued at $0.9 billion plus potential earn-outs. It is expected to close in the course of 2019 following the completion of customary closing conditions, including the receipt of approval from the US Federal Trade Commission.
Aurobindo and Sandoz will enter into a transitional services agreement to support the ongoing growth plans of the businesses being acquired by Aurobindo, which focuses on antibiotics, anti-retrovirals, cardiovascular products, central nervous system products, gastroenterologicals, and anti-allergics.
The Morgan Lewis team advising on the deal was led by partners Steven Navarro, Harry Robins, and Stacey Anne Mahoney. Associate Allison Gargano provided support.